Dubai: Middle Eastern carriers reported the largest increase in air cargo growth in November 2013 when compared to the same month in the previous year, according to the International Air Transport Association (IATA). Exceeding the global average of 6.1 per cent the Middle Eastern carriers reported a 16.5 per cent jump in air freight, measured in freight tonne kilometres (FTK).
IATA stated that improvements in advanced economies, including Europe, are proving beneficial to the Middle Eastern carriers, who are also benefiting from “solid economic and trade growth” in the Gulf.
“The trend is likely to continue with indicators showing record high export orders in the UAE, which bodes well for continued growth in the region’s trade volumes,” IATA stated.
While the Middle East lead the way with double digit growth in air freight for November the global average of 6.1 per cent is an improvement on the 4.4 per cent October 2013 increase.
“This continues an improvement trend in the weak air cargo markets which has been developing over 2013,” IATA stated.
Overall, all regions, except Latin America and Africa, reported growth in November. Asia-Pacific, who accounts for some 40 per cent of the market, reported 4.9 per cent growth in November 2013, up on the 1.8 per cent growth in October. Increasing demand for Asian manufactured consumers foods in North America and Europe is supporting part of the rise in demand for Asian trade and air freight.
“The November results are encouraging — particularly for carriers in the Asia-Pacific region. This good news is largely being driven by improving economic prospects in China along with an overall boost on Asian trade routes. The uptick is a welcome development in a weak performing market. Overall volumes, when adjusted for seasonality, are still below the peaks reached in 2010 and 2011,” Tony Tyler, IATA’s Director General and CEO, stated.
The European airlines, who have felt that impact of the sovereign debt crisis, reported a 8 per cent increase in air freight demand in November 2013 compared to the same 2012 month. Whilst North American carriers reported a 2.5 per cent increase in November 2013, which is down from a 5.3 per cent October jump.
In Latin America, the airlines had a -0.1 per cent drop in demand and -1.2 per cent among African carriers in November. IATA stated that outside competition, lack of adequate infrastructure and political stability is hindering potential growth in Africa.
